Cabinet approves hatchery transfer01 November 2006
FIJI - The cabinet has approved the transfer of the management of the Seawater Hatchery at Galoa to Navua Holdings Limited (NHL).
The decision was made following a recommendation from Fisheries and Forest Minister Ilaitia Tuisese.
NHL was the joint venture company between the Fiji Investment Corporation and other shareholders of Navua Holdings.
The hatchery was established as a Government initiative in 1998, to serve as the springboard in the development of the prawn industry. "To date, government has spent about $3million in Galoa without any financial gain or successful commercial production of post-larvae," Mr Tuisese said.
He said the entrustment of management rights of the hatchery to NHL would see the commercialisation of the hatchery and the re-genesis of the prawn industry.
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Source: Fiji Times